The deal is a part of an arrangement where Varma together with the Swedish Ratos AB and Redito AB found the real estate fund Serena Properties AB that focuses on business properties. The new company acquires a starting portfolio of 22 business properties from Varma.
– This deal is one of the measures we take for our real estate investments should match Varma’s strategic goals. The new real estate fund Serena Properties AB will be a focused investor within the business property sector in Finland and Sweden. It is nice to be able to cooperate with the well-established investment company and the active owner Ratos, says Investment Officer Ilkka Tomperi, who is responsible for Varma’s real estate investments.
Through this arrangement Varma becomes a minority shareholder in the new company with a share of 43 percent. The company estimates that the deal will be completed at the end of January 2016 at the latest, and the implementation demands approval from the competition authorities.
Varma Sells 22 Properties and Invests in New Nordic Real Estate Fund
Finland —
Varma has signed a deal regarding the divestment of 22 business properties to the new real estate fund company Serena Properties AB. The leasable area in the divested properties amounts to approximately 152,000 sqm, and they are located in different areas in Finland. The total value of the properties amount to approximately € 191,5 M.
2015-11-20